A poll conducted by Reuters has found that housing experts predict that Britain’s property market will suffer with average prices dropping by around 3% nationally if we leave the EU without a deal. 85% of housing experts in the poll say that this drop could last for around six months. However, if Britain leaves the EU with a deal, house prices are expected to rise by around 1.5% in the following two quarters after the leave date.
“Despite the new PM and team in government there are big icebergs ahead, not least the apparent willingness to leave the EU without a deal,” said property market consultant Henry Pryor. “This is likely to spook the markets before it reassures them.”
Britain’s housing experts predict that the average house price will drop by around 3% nationally if we leave the EU without a deal.
If we leave the EU with a deal house prices are expected to rise by around 1.5% over the next two quarters after the leave date.
How Can We Help
If you are in the property or construction industry and are worried about how this might affect you Hawsons specialist property and construction accountants are here to help. We have dedicated team of accountants in Sheffield, Doncaster, and Northampton. Having an accountant that understands the challenges of a dynamic sector especially around a time of Brexit is an advantage in a competitive environment.
For more information about our specialist property and construction accountants click here.
If you would like to make an enquiry and book your free initial meeting click here.
More from our property experts
You can find all of our latest property and construction sector news here.
If you are looking for advice in a particular area, please get in touch with your usual Hawsons contact.
Alternatively, we offer all new clients a free initial meeting to have a discussion about their own personal circumstances – find out more or book your free initial meeting here. We have offices in Sheffield, Doncaster and Northampton.
Free initial meeting
Tax Partner, Sheffield
0114 266 7141